Before you start

Passport with a valid visa and stay permit
An employer letter or evidence of your employment or investment
Proof of a Vientiane address
A Lao phone number for OTPs and the mobile app

Step-by-step

1
Open at BCEL or your employer's bank
BCEL has the widest branch and ATM network and the app most residents use. Many employers bank with a particular institution and payroll is simpler if you match them — ask before you choose.
In personWho: You~1 hourSmall opening deposit
2
Bring the full document set
Passport, visa, stay permit, employer letter and proof of address. Lao banks apply their checklists literally and a missing item means a second trip. Your employer's admin team will usually have a current list.
In personWho: You1–2 days to assembleFree
3
Open kip and foreign-currency accounts if you can
Many residents hold a kip account for daily life alongside a USD or THB account. Note that the Bank of the Lao PDR has been tightening foreign-currency rules, including a February 2025 decision on the management of foreign-currency deposit accounts effective April 2025 — ask the bank what applies to your account type now rather than assuming.
In personWho: YouSame visitFree
4
Set up the mobile app and QR payments
BCEL One and its equivalents handle transfers and QR payments and are what daily life runs on. Activate with your Lao SIM while you are still at the branch, because fixing OTP delivery afterwards means going back.
Mobile appWho: You~20 minFree
5
Decide deliberately where your savings sit
The kip lost roughly 60% against the dollar between 2022 and 2025 before stabilising, with inflation still around 10% in 2026. Most long-term foreign residents keep only a working balance in kip and hold savings in a foreign account. Make that a decision rather than a drift.
OnlineWho: YouOngoingFree

Documents you’ll need

Passport with visa and stay permit
Employer letter or evidence of employment / investment
Proof of Vientiane address
Lao SIM / phone number
Small cash opening deposit

Things most newcomers don’t know

Hold a working balance in kip and your savings somewhere else.

The kip fell roughly 60% against the US dollar between 2022 and 2025 before stabilising, and inflation, while declining, was still around 10% in 2026. Nothing about that pattern is a prediction, but it is the reason nearly every long-term foreign resident in Vientiane keeps only what they need for the month in local currency. Model a kip-denominated salary in real terms before you accept one.

Source: World Bank and ADB Lao PDR economic monitoring; AMRO foreign-exchange analysis

Foreign-currency rules are being actively tightened — ask what applies now.

The Bank of the Lao PDR issued Decision No. 11/BOL on 3 January 2025 on the use of foreign currency, reinforcing the kip as the primary domestic currency while allowing defined foreign-currency uses, and a further decision in February 2025 on foreign-currency deposit account management took effect in April 2025. This is a live policy area, so what your bank could do for you last year may not be what it can do now.

Source: Bank of the Lao PDR decisions; Tilleke & Gibbins and Rajah & Tann regional updates

Thai baht is genuinely useful here, and not just for trips.

Vientiane sits across the river from Thailand, residents shop and get treated there, and Thai baht is widely understood in the local economy. A THB balance alongside kip removes conversion friction from hospital bills in Udon Thani, Nong Khai shopping runs and Bangkok flights. It is a more practical second currency here than the dollar for day-to-day purposes.

Source: community-reported

Cash still matters more than the app suggests.

QR payment through BCEL One and its competitors is widespread in central Vientiane, but the further you get from the centre — and the more informal the vendor — the more likely it is that cash is the only option. Keep kip notes on you, and do not plan a trip out of the capital on the assumption that your phone will pay for things.

Source: community-reported

Common mistakes to avoid

Arriving at a branch without a stay permit or employer letter and being turned away
Keeping long-term savings in kip through a depreciation cycle
Assuming foreign-currency account rules are the same as they were a year ago
Not activating the mobile app while you are still at the branch with your SIM
Travelling outside Vientiane assuming QR payment will work

Some of this may be out of date. Spotted something inaccurate? Help us keep it right for the next newcomer.